January 6, 2010
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Credit Crunch?
An ancient parable exists that says,”Teach a man to fish and you feed his family for life.”
¹A modern parable could say,
"Teach a person to invest and you supply their money demands for generations.”
²A recent U.S. business survey has concluded that there's questionable belief in the U.S. government”s ability to “sustain an economic recovery”. This opinion is based on the fact that corporate and individual access to credit has shown only “minor improvements”. Consumer and Corporate debt is at an all-time high. The survey recommends reduced spending, hiring freezes, downsizing and reducing inventory levels, etc. On a personal level it is recommended that short-term loans such as credit cards be payed off and used as back-up to existing accounts. It is also recommended to avoid the hassles associated with accounts receivable management, call centre services, collections and small claims court - all which could result in garnishment of a hard earned pay-cheque.
It seems the ancient Jewish people invented the concept of interest; so instant solutions are near impossible. North American stock markets offer potential gain but, I'll only go on record by saying, "Stay out of it!" Gosh, I don't want to be blamed if anyone makes the wrong decisions - like they did with their credit.
Sources:
¹ British Fantasy Pics
² StockPhotos
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